Q 17: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Q 17
Largest movements
- Cash +€94,487
up €94,487 (+3376.9%), from €2,798 to €97,285
mainly Net result for the year (+€100,976) and Investment in fixed assets (net) (+€61,806)
- Tangible fixed assets -€74,924
down €74,924 (-39.7%), from €188,568 to €113,644
of which Land and buildings: -€174,285
- Receivables within one year +€24,009
up €24,009 (+77.4%), from €31,002 to €55,011
of which Trade receivables: +€15,344
- Stocks and contracts -€3,116
down €3,116 (-93.0%), from €3,351 to €235
- Reserves +€79,976
up €79,976 (+54.1%), from €147,865 to €227,841
- Trade debts -€26,551
down €26,551 (-84.6%), from €31,393 to €4,842
- Tax, wage and social debts +€14,073
up €14,073 (+1629.3%), from €864 to €14,936
- Debts after one year -€9,758
no longer reported in 2025 (was €9,758)
of which Financial debts: -€9,008
- Other debts -€8,503
down €8,503 (-97.5%), from €8,723 to €220
- Gross operating margin +€105,693
up €105,693 (+198.8%), from €53,165 to €158,858
- Taxes +€16,120
up €16,120 (+1985.1%), from €812 to €16,932
- Other operating charges +€12,592
up €12,592 (+337.2%), from €3,734 to €16,327
- Financial charges +€6,291
up €6,291 (+112.7%), from €5,582 to €11,872
- Depreciation -€3,701
down €3,701 (-22.0%), from €16,819 to €13,118
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €226,309 | €267,225 | +€40,915 | +18.1% |
| Fixed assets | 21/28 | €188,568 | €113,644 | -€74,924 | -39.7% |
| Tangible fixed assets | 22/27 | €188,568 | €113,644 | -€74,924 | -39.7% |
| Land and buildings | 22 | €174,285 | - | -€174,285 | |
| Furniture and vehicles | 24 | €14,283 | €113,644 | +€99,361 | +695.7% |
| Current assets | 29/58 | €37,741 | €153,581 | +€115,840 | +306.9% |
| Stocks and contracts in progress | 3 | €3,351 | €235 | -€3,116 | -93.0% |
| Stocks | 30/36 | €3,351 | €235 | -€3,116 | -93.0% |
| Amounts receivable within one year | 40/41 | €31,002 | €55,011 | +€24,009 | +77.4% |
| Trade receivables | 40 | €25,387 | €40,731 | +€15,344 | +60.4% |
| Other amounts receivable | 41 | €5,615 | €14,280 | +€8,665 | +154.3% |
| Cash at bank and in hand | 54/58 | €2,798 | €97,285 | +€94,487 | +3376.9% |
| Deferred charges and accrued income | 490/1 | €591 | €1,051 | +€460 | +77.9% |
| Total equity and liabilities | 10/49 | €226,309 | €267,225 | +€40,915 | +18.1% |
| Equity | 10/15 | €166,465 | €246,441 | +€79,976 | +48.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €147,865 | €227,841 | +€79,976 | +54.1% |
| Distributable reserves | 133 | €147,865 | €227,841 | +€79,976 | +54.1% |
| Amounts payable | 17/49 | €59,845 | €20,784 | -€39,061 | -65.3% |
| Amounts payable after more than one year | 17 | €9,758 | - | -€9,758 | |
| Financial debts | 170/4 | €9,008 | - | -€9,008 | |
| Other amounts payable | 178/9 | €750 | - | -€750 | |
| Amounts payable within one year | 42/48 | €50,086 | €20,784 | -€29,303 | -58.5% |
| Current portion of amounts payable after more than one year | 42 | €9,106 | €786 | -€8,321 | -91.4% |
| Trade debts | 44 | €31,393 | €4,842 | -€26,551 | -84.6% |
| Suppliers | 440/4 | €31,393 | €4,842 | -€26,551 | -84.6% |
| Taxes, remuneration and social security | 45 | €864 | €14,936 | +€14,073 | +1629.3% |
| Taxes | 450/3 | €864 | €14,936 | +€14,073 | +1629.3% |
| Other amounts payable | 47/48 | €8,723 | €220 | -€8,503 | -97.5% |
| Non-recurring operating income | 76A | €14,463 | €227,715 | +€213,252 | +1474.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,819 | €13,118 | -€3,701 | -22.0% |
| Other operating charges | 640/8 | €3,734 | €16,327 | +€12,592 | +337.2% |
| Gross operating margin | 9900 | €53,165 | €158,858 | +€105,693 | +198.8% |
| Operating profit (loss) | 9901 | €32,612 | €129,413 | +€96,801 | +296.8% |
| Financial income | 75/76B | €0 | €367 | +€367 | +1224500.0% |
| Recurring financial income | 75 | €0 | €367 | +€367 | +1224500.0% |
| Financial charges | 65/66B | €5,582 | €11,872 | +€6,291 | +112.7% |
| Recurring financial charges | 65 | €5,582 | €11,872 | +€6,291 | +112.7% |
| Profit (loss) for the period before taxes | 9903 | €27,030 | €117,908 | +€90,878 | +336.2% |
| Income taxes | 67/77 | €812 | €16,932 | +€16,120 | +1985.1% |
| Profit (loss) for the period | 9904 | €26,218 | €100,976 | +€74,758 | +285.1% |
| Profit (loss) for the period to be appropriated | 9905 | €26,218 | €100,976 | +€74,758 | +285.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.